Gen Z vs. Millennials

Over the summer, we completed reports on Millennials, Gen X and Baby Boomers. Now, we are back to discuss Gen Z and tweens. We thought it would first be helpful to outline some of the major differences between Gen Z and its close relative, Millennials.

According to Knoema research, Gen Z is among the largest generations in the country at 73.61M – falling almost directly behind Millennials at 79.4M. To understand Gen Z, you must first be familiar with Millennials. Here is a quick recap:

· Millennials are expected to grow to 81M over the next 20 years

· Majority has less than $1K in their savings accounts; spend more on comforts and conveniences such as taxis, coffees and dining out

Gen Zers have been called “Millennials on steroids” by Business Insider. Born between 1998 and 2016, the oldest members are 19 years old and the youngest are tweens (9-14 year olds). This generation is responsible for approximately $200B in sales.

A common misconception: These two generations are the closest in age, so they are almost identical. In reality, there are stark differences. Here are seven identifiable differences from Inc.com that will help shape your 2018 marketing strategies:

1. Realistic vs. Optimistic

· 77% of Gen Z plan to work more diligently than other generations

2. Independent vs. Collaborative

· Gen Zers value ownership

3. Digital Natives vs. Digital Pioneers

· 40% of Gen Z reported that working Wi-Fi was more important to them than working bathrooms

· Millennials were frontrunners in the digital age; they experienced the introduction and rise of social media, smartphones and mobile activities (shopping, gaming, etc.); Gen Z was born into this way of life